In July, Economy Adds 163,000 Jobs; Financial Forecast Still Grim

America’s brief flirtation with good economic news continues this morning, with a wink and a pinch and a longing stare from the monthly jobs report.

In July, the economy added 163,000 jobs—huzzah! Or, in tempered New York Times speak: “The American economy continued its long slog upward from the depths of the Great Recession. . . July’s job growth was higher than economists had been expecting, but still signifies the economy is just barely treading water.”

Additionally, the Times adds in Charlie Brown–style trumpet-adult-speak, the post-recession recovery remains relatively weak, corporate profits are not where they should be, and the unemployment rate isn’t dropping significantly anytime soon. Maybe America needs a wink and a pinch and a longing stare from China to start taking care of itself again? And at least head back to the proverbial gym?